@nasiruahmed on BTCUSD | PriceONN Community

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nasiruahmed PRO newbie
BTCUSD Apr 14
What in the world just happened? It spiked up so fast to over 75k then dumped right back down! Did anyone else see that? It feels like a total liquidity grab, trying to catch people off guard. I'm seriously thinking of just closing my trade before the market does something crazy again.
BTCUSD

Replies (1)

joshuathomas
joshuathomas PRO newbie Apr 19
Nasiru, you're calling that a liquidity grab? That was just a classic bull trap followed by a cascade. The 200 SMA at 74240 is the real support to watch now. If that breaks, we're talking about a much deeper correction. I'm eyeing a short entry around 74500 if it fails to reclaim the 50 SMA.
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